No, it's much more a case of over-priced homes [1] than under priced developers. Even homes in non-central areas are very expensive - not to mention of a very low standard
Here's [2] an insulated house with no central heating and single glazed windows in a town of 20k people going for $125,000 USD. No real employment opportunities unless you work for local government or commute 50km. No Lord of the Rings style vistas in the Horowhenua either, it's drained swamp.
Here's [2] an insulated house with no central heating and single glazed windows in a town of 20k people going for $125,000 USD. No real employment opportunities unless you work for local government or commute 50km. No Lord of the Rings style vistas in the Horowhenua either, it's drained swamp.
[1] http://www.newshub.co.nz/home/money/2017/03/new-zealand-hous...
[2] http://www.realestate.co.nz/3036902